On June 5, 2020, the Individual Investor Programme Agency announced that quotas for
participation in Maltese citizenship programme by investments were almost over. However,
Malta will continue to grant citizenship by investment: in October 2020, a new program will
begin. What does it mean?
According to MIIP Agency plans, a maximum of 1800 passports can be issued for the
Maltese citizenship programme for private investors currently in force. And this limit is
almost exhausted.
If you want to get into the current citizenship programme you need to:
1) apply for the first part of the program (residence permit) until July 31. To do this, you need
not only collect a preliminary package of documents, but also personally visit Malta to take
biometrics. From July 1, Malta opens its borders with the first 19 countries of the European
Union, so that physically it becomes possible.
2) A full package of documents for applying for citizenship can be executed after obtaining a
residence permit, and to get into the current programme, this must be done before September
30.
What will happen if I do not have time?
The Maltese government is currently developing detailed rules for the next investment
citizenship programme. It will begin to operate in October 2020. So far it is only known that
it will be based on the previous one. However, what specific changes will be made, is not yet
reported.
It is assumed that the amount of the investment contribution may increase, the rules for
investing in bonds and real estate may also change. The management of MIIPA promises that
all changes will be known until October.
Meanwhile, if you, for example, have time to apply only for a residence permit under the
current program, but do not have time to collect citizenship documents until September 30,
then:
– the first part will be filed according to the old rules
– the second – by new ones.
If you want to be guaranteed to get a Maltese passport according to the rules described here
(https://bizconsultmalta.com/portfolio/programs1/), then you need to act faster.